What is it that makes Millbrook such a wonderfully desirable place to buy a section right now when much of the rest of the guilt-edged real estate market seems to have caught a nasty disease?
Surely not just because Bill Clinton played there.
But confirmed sales for December saw $8.8 million worth of Millbrook real estate go to what Millbrook executive Ben O'Malley says were keen buyers.
Three sections sold, along with two Millbrook cottages and a luxury "fairway home."
Some were to overseas investors.
Mr O'Malley said the sales were evidence that people are prepared to pay a premium for the quality that Millbrook offers. Some of the sections were "re-sales" where the latest buyer has paid as much as 20% over and above what the previous owner paid. He said the lower exchange rate and lower interest rates had been factors in attracting overseas buyers.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- Business Week in Review with Grant Walker & Andrew Patterson
- Matthew Hooton on Labour party’s reaction to the budget 2016
- Rodney Hide says the attack by University of Auckland over overfishing is nonsense
- Do social bonds make sense? Tim Hunter tells Andrew Patterson it’s not just about the warm fuzzies
- Cameron Officer talks about the car of the week - Volkswagen California Ocean